LIMA, Oct 7 (Reuters) - Peru is pursuing major

investments from Saudi Arabia and U.S. oil giant Chevron ( CVX )

to develop its mining and energy resources, part of a broad

strategy to revitalize the sector, a top minister said on

Tuesday.

The push comes as Peru, the world's third-largest copper

producer, seeks to jumpstart investment, which has slowed in

recent years amid political uncertainty and persistent social

conflicts.

In an interview with Reuters, Energy and Mines Minister

Jorge Luis Montero said he expected to sign a memorandum of

understanding with Saudi Arabia in November to develop projects

for lithium and other strategic minerals.

He described the Middle Eastern kingdom as seeking a

"reliable strategic partner" in Peru.

Montero said he would travel to Saudi Arabia next month with

Peru's foreign minister to also sign broader economic agreements

with Gulf countries.

He added the Saudi interest extended to "investing in mining

and energy activities... even in seawater desalination plants

for the mining sector in the future."

A parallel effort is underway to overhaul Peru's energy

sector. A key component involves Chevron ( CVX ), which is set to begin

drilling early next year in three offshore blocks.

"The expectation is for production that could reach

250,000-300,000 barrels per day or more," Montero said, assuming

the potential reserves in those blocks are confirmed.

He projected such a volume could allow Peru, currently a net

oil importer, to cease imports within three years, saving the

country around $5 billion annually.

To further bolster its energy strategy, Peru is finalizing a

commercial and infrastructure agreement with neighboring

Ecuador. State-owned oil companies Petroperu and Petroecuador

are scheduled to sign the deal on October 24.

The agreement will link oil fields in southern Ecuador with

Peru's underutilized Norperuano pipeline, allowing Ecuadorean

crude to be transported to and processed at Petroperu's recently

modernized Talara refinery.

Montero said the deal would be a lifeline for financially

troubled Petroperu, ensuring a steady supply to keep reservoirs

full and the Talara refinery "working 24 hours a day."